AAMC (Association of American Medical Colleges) President and CEO David J. Skorton, MD, issued the following statement regarding the passage of the Inflation Reduction Act by the U.S. Senate. The bill would extend the Affordable Care Act subsidies through 2025 and reduce prescription drug costs, among other provisions:
“The AAMC applauds the Senate for passing the Inflation Reduction Act of 2022, which would benefit patients, communities, and families by increasing access to care nationwide by extending Affordable Care Act (ACA) premium tax credits and helping to address the issue of high prescription drug prices.
The legislation would invest $64 billion to extend the expansion of ACA premium tax credits through 2025. The subsidies, which ensure access to care for millions of people, were originally extended through 2022 under the American Rescue Plan Act of 2021. As the COVID-19 pandemic has highlighted many disparities in access to coverage and care, we commend senators for agreeing on a bill that will allow patients and families to maintain access to affordable coverage, empowering them to seek care before treatable conditions become more complicated and costly. Additionally, the high cost of prescription drugs often prevents patients from obtaining the medications they need. We support efforts to lower drugs costs and increase access to affordable medications.
The AAMC urges the U.S. House of Representatives to pass this legislation swiftly to improve the health of patients and communities nationwide.”